Is the United States heading toward a recession? This has been the looming question on the minds of Americans since inflation topped at 8.5% in March, matched with other indicators such as rising interest rates and the bond market's inverted yield curve. Top economists are split on the inevitability of a recession.
- Philadelphia Federal Reserve Bank President Patrick Harker on Wednesday said he believes the central bank can bring inflation down without sending the economy into a recession, in part because the labor market is currently strong.
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* South Africa March retail sales rise 1.3% y/y vs est. 1.5%
(Adds comments, updates prices throughout)
By Anisha Sircar and Bansari Mayur Kamdar
May 18 (Reuters) - A firmer ...
-Two U.S. central bankers say they expect the Federal Reserve to downshift to a more measured pace of policy tightening after July as it seeks to quell inflation without lifting borrowing costs so high that they send the economy into recession.
Ottawa Bancorp, Inc., the holding company for OSB Community Bank, announced today that its Board of Directors has declared a quarterly cash dividend of $0.11 per share, payable on or about June 15, 2022, to stockholders of record as of the close of business on June 1, 2022.
The U.S. dollar rose on Wednesday, on pace to snap a three-session losing streak, as concerns about the outlook for global economic growth and rising inflation knocked sentiment a day after U.S. Federal Reserve Chair Jerome Powell struck a more hawkish tone.
- Wall Street's stock indexes tumbled more than 3% on Wednesday as a growth share rally reversed amid concerns about economic growth highlighted by a 26% plunge in Target Corp shares after the retailer became the latest victim of surging prices. Target's first-quarter profit halved and the company warned of a bigger margin hit on rising fuel and freight costs.
- The Russian economy expanded by 3.5% year-on-year in the first quarter of 2022 after growing 5% in the previous quarter, data from federal statistics service Rosstat showed on Wednesday.
deputy gov
* S. Africa March retail sales rise 1.3% y/y vs est. 1.5%
By Anisha Sircar and Bansari Mayur Kamdar
May 18 (Reuters) - A firmer dollar weighed on most Latin
American ...
The Swiss National Bank is not hostage to other central banks and decides its own independent monetary policy, SNB Chairman Thomas Jordan said on Wednesday. "We are not a hostage... we have an autonomous monetary policy with a focus on price stability," Jordan told an event in Baden.
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